Kushner Likely Paid No Federal Income Taxes for Years, Documents Show

Sections SEARCH Skip to content Skip to site index Subscribe Log In Confidential documents reviewed by The Times indicate that Jared Kushner, President Trump’s son-in-law and adviser, probably paid little or no income tax from 2009 to 2016. Jared Kushner, first down the steps of Air Force One, probably avoided paying federal income taxes via his family’s real estate investments. Credit Credit Al Drago for The New York Times Supported by ByJesse Drucker and Emily Flitter Oct. 13, 2018 Over the past decade, Jared Kushner’s family company has spent billions of dollars buying real estate. His personal stock investments have soared. His net worth has quintupled to almost $324 million. And yet, for several years running, Mr. Kushner — President Trump’s son-in-law and a senior White House adviser — appears to have paid almost no federal income taxes, according to confidential financial documents reviewed by The New York Times. His low tax bills are the result of a common tax-minimizing maneuver that, year after year, generated millions of dollars in losses for Mr. Kushner, according to the documents. But the losses were only on paper — Mr. Kushner and his company did not appear to actually lose any money. The losses were driven by depreciation, a tax benefit that lets real estate investors deduct a portion of the cost of their buildings from their taxable income every year. In 2015, for example, Mr. Kushner took home $1.7 million in salary and investment gains. But those earnings were swamped by $8.3… [Read full story]